Weidmann on ECB policy
- ECB should not miss right moment for normalization
- Expansionary policy still appropriate
- ECB stance still accommodative after QE buying ends
- Price outlook in ECB forecast in line with ECB goal
- Fears of deflation have disappeared
- Eurozone recovery is gaining pace, broadening
This is a similar tune to Draghi. The thinking is that Weidmann is moving himself more to the centre because he wants Draghi's job.
The less-nefarious take is that he's right about all these things. The ECB is in a good spot to taper and that the economy is doing fine.
